News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
EUR/USD Gaps Down, Trades into Well-Defined 1.2880

EUR/USD Gaps Down, Trades into Well-Defined 1.2880

Jamie Saettele, CMT, Sr. Technical Strategist

WeeklyCandles

eliottWaves_eur-usd_body_eurusd.png, EUR/USD Gaps Down, Trades into Well-Defined 1.2880

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

FOREXAnalysis: 1.2880 was reached today. The level is defined by the 50% retracement of the rally from the 2012 low, late November low and December low. Price is also holding on to channel support from the 2012 low (intraweek). It’s been a difficult market environment with several false bottoms but the Sunday gap down into support is a good reversal combination.

FOREX Trading Strategy: Got whipsawed with price exceeding 1.3064 on Friday and turning us bullish. The EURUSD needs to hold today’s low before we can attempt longs again. A bottom appears to be in place in EURSEK.

LEVELS: 1.2661 1.2710 1.28751.3045 1.31341.3250

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES